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Not since the collapse of Leeds United have an established club in Britain
faced the crisis that besets Rangers. Their finances are being pored over by
the taxman, the Scottish FA, the Scottish Premier League and Strathclyde
Police.

The owner Craig Whyte bought Rangers from Sir David Murray for £1 in
May 2011, but bold claims about how he was going to fund the club soon
proved a spectacular bluff. Under Whyte’s stewardship, Rangers collected
PAYE and VAT but failed to hand any money over to the taxman, building up a
debt of as much as £15 million since May.